The global bitumen market presented a varied and evolving picture in the week ending May 23, 2025. Across Europe, Sub-Saharan Africa, and the Asia-Pacific & Middle East, market conditions were shaped by seasonal bitumen demand fluctuations, ongoing supply chain adjustments, significant refinery activities, and the underlying momentum of infrastructure projects. While some regions experienced heightened bitumen demand for construction, others faced challenges from weather patterns and logistical complexities. This weekly market report provides a concise overview of these key trends influencing the worldwide bitumen industry.
The European bitumen market revealed a landscape of contrasting regional trends. While some areas benefited from favorable weather boosting bitumen demand for construction, others saw a more tempered start to the peak season.
In France, demand in northern and central regions grew steadily, but Southern France faced project delays due to adverse weather and significant refinery maintenance impacting local bitumen supply. The Benelux countries, however, reported impressive bitumen demand in May, surpassing forecasts, with optimism for continued strength into June.
Key refinery operations significantly influenced regional supply. Beyond the maintenance in Southern France, a planned bitumen production restart in early June at a Serbian refinery is an important development for Central European supply. Conversely, Poland and the Czech Republic experienced more measured bitumen demand, with many projects awaiting greater clarity on government budgets.
Romania and Hungary showed firm local bitumen pricing trends, with logistical enhancements at Romanian river terminals expected to improve regional flows. The United Kingdom continued to see robust bitumen demand due to dry weather accelerating paving schedules, while the Nordic and Baltic states also reported rising demand. In Germany, however, bitumen pricing trends generally softened, reflecting slower-than-anticipated demand in some areas amidst ample supply.
Sub-Saharan Africa's bitumen market was marked by urgent pre-rainy season construction, especially in West Africa, alongside evolving supply sources and logistical challenges.
In West Africa, particularly Nigeria and Cameroon, a construction rush to beat the upcoming rainy season drove strong bitumen demand. Cargo pricing trends into the region saw some easing, influenced by lower freight assessments from the Mediterranean, though secure shipping remains a consideration. The Ivory Coast continued as a key regional exporter.
East Africa saw import pricing trends for bitumen soften slightly. Kenya stood out with buoyant demand, supported by improved economic conditions and investment in road projects. Nearby Uganda anticipated a pick-up in construction activity soon. In Ethiopia, efforts continued to unlock significant bitumen demand potential by addressing trade financing issues.
South Africa reported high bitumen demand from major highway projects. However, its domestic supply is undergoing critical changes. A key refinery halted bitumen production and is expected to cease it altogether later in the year, while supplies from a traditional Middle Eastern source (Bahrain) have also paused due to refinery upgrades there. This points to increased South African reliance on diverse import sources for its bitumen requirements.
The vast Asia-Pacific & Middle East bitumen market showed varied demand, strategic supply adjustments by major producers, and significant seasonal weather impacts.
Singapore saw increased bitumen export activity, mainly to Vietnam, with suppliers showing stronger price resistance as competitive offers from South China diminished. This is partly due to some Chinese suppliers shifting focus to their domestic market, where margins were more attractive, thus tightening regional export availability. Chinese domestic demand itself was mixed, with northern regions firm but southern areas impacted by rains and slower project funding.
In Southeast Asia, Malaysia and Indonesia experienced subdued bitumen consumption due to a lack of new projects and weather disruptions. Thailand, however, saw mostly firm local demand despite rains, though domestic production was tighter due to refinery maintenance.
South Korean bitumen pricing trends firmed after a key tender, with significant cargo volumes observed moving towards China. Taiwan's export supply remained limited. Further south, Australia and New Zealand entered their typical winter slowdown, with minimal road paving activity and importers looking ahead to September deliveries.
India faced weakened bitumen consumption in western and southern regions due to rains and delays in project fund disbursements, impacting import demand. Demand for drummed bitumen was firmer in the north where weather was more favorable. In the Middle East, listed bitumen values from Bahrain were largely stable amidst subdued demand, with upcoming refinery maintenance there also a factor for future supply.
The global bitumen market's trajectory will be heavily influenced by evolving weather patterns, the progress of infrastructure projects, and refiners' strategic output decisions. Vigilant monitoring of freight markets and regional supply efficiencies remains essential for all stakeholders navigating the bitumen demand and supply chain.